Antares Capital Continues Liquid Credit Momentum with Closing of Third BSL CLO at $400 million

CHICAGO--(BUSINESS WIRE)--Antares Capital (“Antares”), a leading alternative asset manager with $68+ billion in assets under management and administration, today announced the closing of the firm’s third broadly syndicated loan (“BSL”) collateralized loan obligation (“CLO”), Orion CLO 2024-3, totaling $400 million.

“We are thrilled by the continued momentum and positive market reception our Liquid Credit strategy has received since its inception last year,” said Vivek Mathew, Head of Asset Management at Antares. “Today’s close underscores our credit expertise, investor alignment across our strategies and nearly three decades of experience in credit markets.”

Orion CLO 2024-3, which is intended to comply with European risk retention regulations, closes on the heels of significant momentum of the firm’s Liquid Credit platform. The transaction received strong investor interest across the debt stack, building further on the platform’s strategy and growing relationships in the Liquid Credit CLO space. Late last year, the firm closed its second BSL CLO totaling $450 million, which came shortly after the close of the firm’s inaugural BSL CLO at $450 million and an expansion of the senior Liquid Credit team.

“The rapid growth of our Liquid Credit platform in such a short time is a testament to managing one of the industry’s largest and longest-tenured private debt portfolios,” said Seth Katzenstein, Head of Liquid Credit at Antares. “We are looking forward to building on our investor relationships with a long-term view of credit markets.”

Antares’ Liquid Credit strategy is bolstered by a private credit CLO platform established in 2017, which focuses on high-quality portfolios with borrowers who have demonstrated stable cash flow, established market positions, and resilience through cycles. The firm is the second largest private credit CLO manager in the U.S. by AUM¹ and was recently named Best Middle Market CLO Manager by Creditflux² for the second consecutive year. As of March 31, 2024, the firm has approximately $11.1 billion of assets under management across 13 CLOs.

About Antares

Founded in 1996, Antares is an experienced and cycle-tested alternative asset manager and a leading provider of financing for private equity-backed borrowers. With one of the most seasoned teams in the industry, Antares is focused on delivering attractive risk-adjusted returns for investors and creating long term-value for stakeholders. The firm manages $68B+ of capital under management and administration as of March 31, 2024, and maintains offices in Atlanta, Chicago, Los Angeles, New York, Toronto and London. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital is a subsidiary of Antares Holdings LP, (collectively, “Antares”). Antares Capital London Limited is an appointed representative of Langham Hall Fund Management LLP, an entity which is authorized and regulated by the Financial Conduct Authority of the UK.

¹ As of March 4, 2024. Source: BofA Global Research US Manager AUM ranking, LCD, Intex.
² Antares does not pay fees for any award considerations. Creditflux CLO Awards 2024 (published May 16, 2024).